Funding Milestone. Borrower shall receive, after October 15, 2017 but on or before November 15, 2017, Cash proceeds of at least $15,000,000, less reasonable transaction costs not to exceed $500,000, from the sale or issuance of Borrower’s equity or Subordinated Debt securities.
Funding Milestone. 1. Provided this Agreement has not been previously terminated in accordance with its terms, Buyer shall have an initial period of thirty (30) calendar days (the "Funding Milestone #1 Period") from the expiration of the Qualification Period to obtain satisfactory commitments on the Platform from BuildingBits Investors of an amount ("Funding Milestone #1") equal to six percent (6%) of one million three hundred thousand dollars ($1,300,000) (the "Funding Goal"). If Funding Milestone #1 is not met by the expiration of the initial Funding Milestone #1 Period, then Seller may terminate this Agreement by delivering written notice thereof to Buyer within two (2) business days after the expiration of the initial Funding Milestone #1 Period, in which case this Agreement will terminate, the Escrow Agent shall promptly return any Exxxxxx Money on deposit with Escrow Agent to Buyer, and the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement). In the event that Seller does not timely exercise the foregoing termination right, then the Funding Milestone #1 Period will be automatically extended for an additional thirty (30) calendar days. If Funding Milestone #1 is not met by the expiration of the Funding Milestone #1 Period, as extended, then Seller may terminate this Agreement by delivering written notice thereof to Buyer within two (2) business days after the expiration of the Funding Milestone #1 Period, as extended, in which case this Agreement will terminate, the Escrow Agent shall promptly return any Exxxxxx Money on deposit with Escrow Agent to Buyer, and the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement). At any time within the Funding Milestone #1 Period, as it may be extended, Buyer may elect in its sole discretion to terminate this Agreement due to the actual or anticipated failure to meet Funding Milestone #1 by delivering written notice thereof to Seller, in which case this Agreement will terminate, the Escrow Agent shall promptly return any Exxxxxx Money on deposit with Escrow Agent to Buyer, and the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement).
Funding Milestone. Borrower shall achieve the Funding Milestone.
Funding Milestone. On or before January 31, 2020, Borrower shall deliver to Bank (i) a fully executed equity purchase agreement providing for an aggregate equity investment in Borrower or Parent Guarantor of at least $60,000,000, on terms and from investors reasonably acceptable to Bank; and (ii) evidence reasonably satisfactory to Bank that Borrower or Parent Guarantor has received, after the Closing Date, Cash proceeds of at least $30,000,000, less reasonable transaction expenses, from the sale or issuance of Borrower’s or Parent Guarantor’s equity securities to investors reasonably acceptable to Bank.
Funding Milestone. In addition to the foregoing, Licensee further agrees to meet the following Funding Milestone:
Funding Milestone. On or before December 31, 2023, Borrower shall deliver to Bank evidence reasonably satisfactory to Bank that Borrower or Parent Guarantor has received, after the Third Amendment Date, gross Cash proceeds of at least $50,000,000, less reasonable transaction expenses (including, without limitation, underwriters discounts and commissions and legal and accounting fees and expenses) from the sale or issuance of Borrower’s or Parent Guarantor’s equity securities to investors.
Funding Milestone. Not later than five Business Days following the earlier of May 31, 2019 and the date JET has completed the Funding Milestone, JET shall provide SLAS with a written report as to whether the Funding Milestone has been achieved, along with such supporting documentation and material requested by SLAS, acting reasonably, evidencing the occurrence or non-occurrence of the Funding Milestone (along with such reasonable back-up information as SLAS may request, which may include names of investors and the amount invested, dates investments were made, the type of investment and any commissions payable). In the event the foregoing report is not received by SLAS within five Business Days of May 31, 2019 the Funding Milestone shall be deemed not to have been completed.
Funding Milestone. On or before November 30, 2008, Parent shall provide Bank with a signed term sheet with respect to the issuance of at least $4,000,000 of Parent’s convertible debt or equity securities (inclusive of $1,000,000 in convertible debt issued and outstanding to Austin Ventures as of the Closing Date), which transaction shall close on or before January 15, 2009 (the “Funding Milestone”).
Funding Milestone. 1. Provided this Agreement has not been previously terminated in accordance with its terms, Buyer shall have an initial period of forty-five (45) calendar days (the "Funding Milestone #1 Period") from the expiration of the Qualification Period to obtain satisfactory commitments on the Platform from BuildingBits Investors of an amount ("Funding Milestone #1") equal to six percent (6%) of Four Hundred Fifty-Five Thousand Dollars ($455,00) (the "Funding Goal"). If Funding Milestone #1 is not met by the expiration of the initial Funding Milestone #1 Period, then Seller may terminate this Agreement by delivering written notice thereof to Buyer within two (2) business days after the expiration of the initial Funding Milestone #1 Period, in which case this Agreement will automatically terminate, the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement) and the Exxxxxx Money shall be returned to Buyer. At any time within the Funding Milestone #1 Period, as it may be extended, Buyer may elect in its sole discretion to terminate this Agreement due to the actual or anticipated failure to meet Funding Milestone #1 by delivering written notice thereof to Seller, in which case this Agreement will terminate, the parties will have no further obligations hereunder (except for obligations that are expressly intended to survive termination of this Agreement) and the Exxxxxx Money shall be returned to Buyer.
Funding Milestone. On or after December 1, 2016 and on or before April 30, 2017, Borrower shall have received at least Five Million Dollars ($5,000,000) of gross cash proceeds (provided that Borrower shall only incur a reasonable amount of transaction expenses in connection therewith) from the sale or issuance of its equity securities or Subordinated Debt to investors and on terms and conditions reasonably acceptable to Bank.”
